Jefferies Lower Price Target on Chimera (CIM)

Jefferies trimmed its price target on Chimera Investment Corp (NYSE: CIM) from $3.80 to $3.00,while maintaining a Hold rating.

The firm notes, "With limited opportunities for capital deployment in the near term and increasing headwinds from the re-REMIC residual book, we remain Hold rated on shares of CIM. Although we expect CIM to eventually be a significant player in the non-Agency new issuance market, over the near term we expect the optics from the subordinate portfolio to overshadow the company's long-term potential."

FY11 EPS goes from $0.57 to $0.56 and FY12 from $0.52 to $0.46.


For more ratings news on Chimera Investment Corp click here and for the rating history of Chimera Investment Corp click here.

Shares of Chimera Investment Corp closed at $3.13 yesterday.

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